As Old Francs Expire, France Makes a Small Mint

PARIS — Greece may be scrambling for revenue, but the French treasury has just banked some 550 million euros for doing nothing — simply letting the French franc, created in 1360, finally perish.

Friday was the last day that French francs could be turned into the Bank of France, the central bank, in exchange for the common European currency, the euro, a little more than a decade after it was introduced as bills and coins. The approximately 550 million euros represents the francs still outstanding, somewhere, which are now worthless, and which will be registered as revenue for the French state.

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The hardworking staff (and the Missus) went to Paris in 2002 just as the euro was launched. You could buy one euro for 81¢ American at that point.